CSC needs scrutiny
I WRITE in utter dismay and response to the LNP candidate for Herbert’s letter to the Editor on Thursday.
The LNP candidate clearly does not understand the political lobbying process and I am amazed I need to remind him that it is his LNP Government that has refused to include the Commonwealth Superannuation Corporation ( CSC) in the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
It is a royal commission the LNP Government voted against 26 times.
The CSC is a significant superannuation fund managing $ 38.8 billion in member assets and our veterans, serving and ex- serving personnel deserve to have confidence in the performance of their fund. I have listened to veterans, current and ex- serving members and their families, who want to see the CSC put under the same scrutiny as other funds in the royal commission.
It is only fair that the CSC be included, which is why I supported their call and successfully lobbied Labor’s Shadow Ministry to publicly support expanding the banking royal commission to include the CSC.
Labor agreed that our serving, ex- serving personnel and veterans deserve to have confidence in their superannuation fund and we are committed to ensuring that the royal com- mission delivers justice to all who have suffered because of the misconduct in the banking and financial services sector.
Labor’s Shadow Minister for Veterans Affairs, Amanda Rishworth, wrote to the then Treasurer, now Prime Minister, Scott Morrison twice and has also written to then Shadow Minister for Veterans Affairs Michael McCormack calling on the Government to amend their terms of reference to include the CSC in the banking royal commission.
Since February, Labor have publicly called on the Government to act. The LNP Government has made it known that it has no intention of including the CSC in the royal commission.
It is unacceptable for the LNP Government to dismiss the importance and fairness of including the CSC into the royal commission.
Labor understands the importance and that is why I lobbied hard to the Shadow Ministry to support the inclusion of the CSC in the royal commission. I have made a number of speeches in Parliament calling on the LNP Government to include the CSC.
Last week Leader of the Opposition Bill Shorten, Shadow Minister for Financial Services Claire O’Neil and I held a banking roundtable in Townsville, where we heard from veterans as well as people who have lost everything due to banking misconduct.
After hearing their stories, the very next day Bill Shorten wrote to the Prime Minister Scott Morrison asking that he consider providing an opportunity for more victims across the country to give evidence about banking misconduct. But once again Prime Minister Scott Morrison is refusing.
To ensure their voices are heard, I have set up a petition on my Facebook page asking veterans, ex- serving and serving personnel to sign, demanding the CSC be included in the royal commission.
This issue is above politics and I call upon the LNP candidate for Herbert to sign my petition. CATHY O’TOOLE, Member for Herbert.